Wyeth Q3 profit dips 32% to Rs 17.46 cr

Drug firm Wyeth today reported 32.08 per cent dip in standalone profit at Rs 17.46 crore for the third quarter ended December 31, 2013-14 fiscal.
It had posted standalone profit of Rs 25.71 crore for the October-December quarter of 2012-13, Wyeth said in a filing to the BSE.
Total income of the company in Q3, 2013-14 decreased to Rs 161.32 crore, from Rs 170.94 crore in the year-ago period.
Meanwhile, Wyeth said that it has approved the scheme of amalgamation of the company with Pfizer on November 23 with a share swap ratio of seven equity shares valuing Rs 10 of Pfizer with every 10 equity shares of similar value of Wyeth.

"The company is in the process of filing the scheme with the High Court of Bombay... Pending all statutory approvals, no effect of the above scheme has been given in results," Wyeth said.
Wyeth Ltd scrip closed at Rs 709, down 2.99 per cent, on the BSE.